Brandywine Global Investment Management LLC reduced its position in Old Second Bancorp, Inc. (NASDAQ:OSBC) by 7.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 496,494 shares of the financial services provider’s stock after selling 40,854 shares during the period. Brandywine Global Investment Management LLC’s holdings in Old Second Bancorp were worth $6,157,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC acquired a new stake in shares of Old Second Bancorp during the first quarter worth $27,000. Lazard Asset Management LLC bought a new stake in shares of Old Second Bancorp in the second quarter valued at about $25,000. Berman Capital Advisors LLC bought a new stake in Old Second Bancorp during the second quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new stake in Old Second Bancorp during the second quarter worth about $47,000. Finally, Marshall Wace LLP acquired a new position in Old Second Bancorp during the first quarter worth approximately $60,000. 71.33% of the stock is owned by institutional investors.
In other news, CEO James Eccher purchased 8,770 shares of Old Second Bancorp stock in a transaction dated Tuesday, August 10th. The stock was purchased at an average cost of $11.40 per share, for a total transaction of $99,978.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bradley S. Adams acquired 9,544 shares of the company’s stock in a transaction dated Thursday, August 12th. The shares were bought at an average cost of $11.53 per share, with a total value of $110,042.32. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 88,100 shares of company stock worth $1,036,708. 4.70% of the stock is owned by insiders.
Old Second Bancorp (NASDAQ:OSBC) last issued its earnings results on Tuesday, July 20th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The firm had revenue of $29.87 million during the quarter, compared to analyst estimates of $33.97 million. Old Second Bancorp had a net margin of 27.80% and a return on equity of 11.63%. Equities research analysts forecast that Old Second Bancorp, Inc. will post 0.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 9th. Stockholders of record on Friday, July 30th were paid a $0.05 dividend. The ex-dividend date was Thursday, July 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.51%. Old Second Bancorp’s dividend payout ratio is presently 21.74%.
Several equities analysts have recently commented on OSBC shares. Zacks Investment Research downgraded Old Second Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 29th. Raymond James dropped their price target on Old Second Bancorp from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Friday, July 23rd.
About Old Second Bancorp
Old Second Bancorp, Inc is a bank holding company, which engages in the provision of traditional retail and commercial banking services through its wholly owned subsidiaries. Its services includes personal banking, loans, business banking, and wealth management. The company was founded in 1981 and is headquartered in Aurora, IL.
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